Cheap ruble helps boost Russian high-tech exports to Thailand
GLEB FEDOROV, RBTH
BANGKOK: -- Russian Trade Representative in Thailand Oleg Maskennikov talks to RBTH about the growth of Russian high-tech exports to Thailand, and the prospects for growth in bilateral trade.
Despite the fall in the volumes of bilateral trade, Russian high-tech exports to Thailand continue to grow. What’s the secret?
The volume of bilateral trade between Russia and Thailand in the last year has indeed decreased twofold. Besides the general condition of the economies, the numbers were drastically affected by the fall in the prices of oil and oil products, as well as the fact that Thailand began buying more Middle Eastern oil on account of excess oil supplies in market.
But the fall in the value of the ruble, on the contrary, has helped Russia. The cheap ruble is one of the reasons why Russia was able to increase its export of high-tech products to Thailand to $55 million in 2015 from $4 million in 2014.
Thailand began buying aviation technology from Russia, as well as vessels, and industrial equipment. Moreover, we are ready to continue this ‘trend’ and offer Thailand modern ships and other products.
Full story: https://rbth.com/business/2016/05/17/cheap-ruble-helps-boost-russian-high-tech-exports-to-thailand_593361
-- Russia Beyond The Headlines 2016-05-17